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The Target: BT Group is the United Kingdom's leading fixed and mobile telecom provider. It also provides managed telecommunications, security, and network and IT infrastructure services to customers in 180 countries.
The Take: This comes after the Black Basta ransomware gang claimed they breached the company's servers and allegedly stole 500GB of data, including financial and organizational data, "users data and personal docs," NDA documents, confidential information, and more.
The Vector: BT Group identified an attempt to compromise their BT Conferencing platform. This incident was restricted to specific elements of the platform, which were rapidly taken offline and isolated, BleepingComputer was told.
This breach highlights the extreme importance of timely software updates for known software vulnerabilities, not only in systems directly under a firm’s control, but in third-party systems the firm relies upon as well. The longer a firm, or its vendors, hold out on deploying the most up-to-date software for their systems, the greater the chance an attacker will exploit the issue.
Cybersecurity Dive: The new leader of the United Kingdom’s National Cyber Security Centre warned the country has reached an inflection point where malicious actors are actively working to weaponize the country’s dependence on the digital economy.
MSN: Cyberattacks have cost British businesses around 44 billion pounds ($55.08 billion) in lost revenue in the past five years, with 52% of private sector companies reporting at least one attack in that time, insurance broker Howden said.
TechCrunch: Finastra, a London-based financial software company that serves most of the world’s top banks, has confirmed it’s investigating a data breach after a hacker claimed a compromise of the company’s internal file-transfer platform.
Bank Info Security: British financial institutions must ensure by this spring that they could reasonably weather a third-party tech outage on the scale of July's global meltdown of 8.5 million computers triggered by a faulty update from cybersecurity firm CrowdStrike.
PYMNTS.com: U.K. cybersecurity firm CybaVerse is expanding its team after raising $1.4 million. The company announced the fundraise on its website, saying it would use the capital to speed the development of its platform and expand its team.
Tech Monitor: The UK, the US, and Canada are set to collaborate on research, development, testing, and evaluation of technologies related to artificial intelligence (AI), cybersecurity, resilient systems, and information domain-related innovations.
The Guardian: Cybersecurity firm Wiz, which last month rejected a $23bn (£18bn) takeover bid from Google’s parent company, Alphabet, is to open a European headquarters in London – a move that is a major shot in the arm for the UK’s aspiration to be a global tech hub.
Tech Radar: The King has unveiled the newly-elected Labour government’s first drafted bills and legislation to the UK Parliament, including several pieces relating to technology.
City A.M: London-based tech company CultureAI has secured $10m (£7.7m) in a Series A funding round, co-led by Mercia Ventures and Smedvig Ventures. The investment is set to propel CultureAI’s product development, double its workforce and support its expansion into the US market.
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